Seoul: Exports of Korean information and communication technology (ICT) products rose by 14 percent in September compared to the same period last year, driven by record-high semiconductor performance, according to data released on Tuesday.
According to Emirates News Agency, outbound shipments of ICT products reached US$25.43 billion last month, as compiled by the Ministry of Science and ICT. This marks the highest export volume for any September, reported Yonhap News Agency.
Imports gained 10.4 percent on-year to $13.78 billion, resulting in a trade surplus of $11.65 billion in the sector. The ministry attributed the sharp increase in exports to record shipments of semiconductors, which spiked 21.9 percent on-year to $16.62 billion on higher memory chip prices amid growing investments in artificial intelligence (AI) servers by global companies.